First Hawaiian Bank Increases Position in Genuine Parts (NYSE:GPC)

First Hawaiian Bank increased its holdings in Genuine Parts (NYSE:GPC) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,168 shares of the specialty retailer’s stock after acquiring an additional 442 shares during the period. First Hawaiian Bank’s holdings in Genuine Parts were worth $991,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its holdings in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the period. WD Rutherford LLC purchased a new stake in shares of Genuine Parts during the first quarter worth $26,000. Union Savings Bank lifted its position in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts during the first quarter worth $35,000. Finally, Stephens Consulting LLC lifted its position in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

NYSE GPC traded up $2.85 during trading hours on Tuesday, reaching $141.20. 347,514 shares of the stock traded hands, compared to its average volume of 1,030,397. The stock has a 50 day simple moving average of $139.74 and a two-hundred day simple moving average of $146.60. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market cap of $19.67 billion, a price-to-earnings ratio of 15.43 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that Genuine Parts will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on GPC. Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. Wedbush dropped their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Jefferies Financial Group increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.